GRSE Q1 results, net profit of Rs 87.2 crore recorded

State-owned GRSE (Garden Reach Shipbuilders) has announced the financial results of the June quarter reporting a 13.7% growth in net profit. The company reported a net profit of Rs 87.2 crore for the April-June period, which is a 13.7% growth compared to the same period last year.

The Company’s revenue grew by 33.6% year-on-year to Rs 1,009.7 crore, while Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA) for the period grew by 22% to Rs 56.3 crore.

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However, EBITDA margin for the quarter narrowed to 5.6% from 6.1% which it reported in the year-ago quarter.

Shares of Garden Reach Shipbuilders are trading 2.4% lower following the earnings announcement at Rs 2,128.8. The stock has increased by 143% so far in 2024.

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